Analysts Expect Apache Co. (NYSE:APA) to Post -$0.05 EPS

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Wall Street brokerages expect Apache Co. (NYSE:APA) to post earnings of ($0.05) per share for the current quarter, according to Zacks Investment Research. Seven analysts have provided estimates for Apache’s earnings, with the lowest EPS estimate coming in at ($0.23) and the highest estimate coming in at $0.18. Apache posted earnings per share of $0.63 during the same quarter last year, which would indicate a negative year-over-year growth rate of 107.9%. The company is expected to announce its next earnings report on Wednesday, October 30th.

According to Zacks, analysts expect that Apache will report full year earnings of $0.37 per share for the current fiscal year, with EPS estimates ranging from $0.00 to $0.74. For the next financial year, analysts expect that the business will post earnings of $1.35 per share, with EPS estimates ranging from ($0.16) to $6.33. Zacks Investment Research’s EPS averages are an average based on a survey of sell-side research analysts that that provide coverage for Apache.

Apache (NYSE:APA) last issued its quarterly earnings results on Wednesday, July 31st. The energy company reported $0.11 earnings per share for the quarter, topping the consensus estimate of $0.04 by $0.07. Apache had a positive return on equity of 5.12% and a negative net margin of 10.12%. The business had revenue of $1.60 billion during the quarter, compared to the consensus estimate of $1.58 billion.

APA has been the subject of several research analyst reports. ValuEngine upgraded Apache from a “strong sell” rating to a “sell” rating in a research note on Thursday, August 1st. Stifel Nicolaus set a $29.00 price objective on Apache and gave the stock a “hold” rating in a research note on Monday, August 12th. Morgan Stanley reduced their price objective on Apache from $19.00 to $18.00 and set an “underweight” rating for the company in a research note on Friday, July 12th. Wolfe Research upgraded Apache from an “underperform” rating to a “peer perform” rating in a research note on Monday, June 3rd. Finally, Bank of America reduced their price objective on Apache from $30.00 to $29.00 and set an “underperform” rating for the company in a research note on Thursday, August 1st. Six research analysts have rated the stock with a sell rating, twelve have given a hold rating and three have given a buy rating to the company. The company has a consensus rating of “Hold” and a consensus price target of $36.33.

In related news, Director John E. Lowe acquired 5,000 shares of the stock in a transaction on Wednesday, August 7th. The shares were bought at an average price of $21.83 per share, with a total value of $109,150.00. Following the completion of the purchase, the director now owns 30,000 shares of the company’s stock, valued at approximately $654,900. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP William Mark Meyer acquired 2,000 shares of the stock in a transaction on Friday, May 31st. The shares were bought at an average cost of $25.92 per share, for a total transaction of $51,840.00. Following the purchase, the executive vice president now directly owns 2,919 shares of the company’s stock, valued at approximately $75,660.48. The disclosure for this purchase can be found here. Insiders own 0.69% of the company’s stock.

Several institutional investors have recently made changes to their positions in the company. Mn Services Vermogensbeheer B.V. boosted its position in shares of Apache by 196.7% in the 2nd quarter. Mn Services Vermogensbeheer B.V. now owns 192,634 shares of the energy company’s stock valued at $5,581,000 after purchasing an additional 127,700 shares during the period. Strs Ohio boosted its position in shares of Apache by 1.3% in the 1st quarter. Strs Ohio now owns 324,296 shares of the energy company’s stock valued at $11,240,000 after purchasing an additional 4,299 shares during the period. Envestnet Asset Management Inc. lifted its position in Apache by 569.2% during the 1st quarter. Envestnet Asset Management Inc. now owns 268,390 shares of the energy company’s stock worth $9,302,000 after acquiring an additional 228,284 shares during the period. South Dakota Investment Council lifted its position in Apache by 6.6% during the 1st quarter. South Dakota Investment Council now owns 598,755 shares of the energy company’s stock worth $20,753,000 after acquiring an additional 37,318 shares during the period. Finally, State of Wisconsin Investment Board lifted its position in Apache by 430.7% during the 1st quarter. State of Wisconsin Investment Board now owns 509,135 shares of the energy company’s stock worth $17,647,000 after acquiring an additional 413,193 shares during the period. 95.41% of the stock is currently owned by institutional investors and hedge funds.

Shares of NYSE:APA opened at $21.46 on Friday. Apache has a 52-week low of $19.44 and a 52-week high of $50.03. The stock has a market cap of $8.07 billion, a price-to-earnings ratio of 12.12, a PEG ratio of 9.77 and a beta of 1.80. The company has a quick ratio of 1.03, a current ratio of 1.23 and a debt-to-equity ratio of 1.00. The business has a 50-day moving average price of $23.89 and a 200-day moving average price of $29.88.

Apache Company Profile

Apache Corporation, an independent energy company, explores for, develops, and produces natural gas, crude oil, and natural gas liquids (NGLs). The company has operations in onshore assets located in the Permian and Midcontinent/Gulf Coast onshore regions; and offshore assets situated in the Gulf of Mexico region.

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